Just the memory. There could be a situation, that Radeon Pro 580X has a TDP of 125W for GPU + 35W for memory. And for Vega 48 TDP 150W for GPU + 10W for memory. But I don’t know how Apple uses its thermal budget with the memory and how the heat is distributed from them...Please explain I am not familiar with HBM? Are you saying the Vega will produce less heat that the stock card?
Anyhoo, my main point was that there's a good boost coming from better memory bandwidth of HBM to make the difference.
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